The Weekly Oil and Gas Update

The Weekly USA Oil & Gas Update: 8th June 2015

Todd Erickson
Contributor: Todd Erickson
Posted: 06/07/2015

The Oil & Gas Weekly is compiled by Todd Erickson. Todd is a veteran executive manager in the North American E&P market.

He has management experience in high-growth oil & gas service organizations performing a leadership role in operations, strategy, and corporate development with a track record of identifying opportunities and best-practices, creating execution plans, then developing effective teams and leaders to execute them.

Learn more about Todd here

Rig Counts - select states with key plays

Select states

This Week

Change from last week

3 months ago

One year ago

Alaska

10

0

12

10

Arkansas

5

-1

11

11

California land

11

+1

12

47

Colorado

39

-2

39

65

Kansas

14

+1

15

31

Mississippi

2

0

4

10

N. Louisiana

27

0

30

29

New Mexico

46

-2

61

86

North Dakota

76

-1

105

169

Ohio

22

-1

35

39

Oklahoma

106

0

139

198

Pennsylvania

46

-1

47

57

Texas

364

-5

538

896

Utah

7

0

9

27

West Virginia

20

+2

17

25

Wyoming

22

0

32

48

Total US

868

-7

1192

1860

Total Canada land

112

+17

296

212

Oil & Gas Prices - Bloomberg/EIA

This Morning

12 weeks ago

1 year ago

Crude Oil - USD/bbl

WTI

58.55

43.93

105.09

Brent

62.75

52.00

110.34

Natural Gas-USD/mmbtu

NYMEX Henry Hub

2.64

2.68

4.67

General News

This one might be a bit shorter than usual. The airline has so far delayed my flight four times for a total of five hours, and I don't expect to arrive in Pittsburgh until 4:30am. Really bites into my newsletter-writing time.

Sunoco proposes second NGL pipeline from Marcellus to coast

The Mariner East pipeline, a 20" line expected to move 275,000 barrels per day from the Marcellus to Marcus Hook, may get a twin. Sunoco's belief in the growth of the Marcellus, and nearby Utica, is so bullish that it will have an open season on a second Mariner East, slightly smaller at 16" and 225,000 barrels per day. Sunoco would build the pipelines at the same time side by side, minimizing disruption to landowners. Much of the NGL delivered to Marcus Hook is expected to be exported to European buyers. Article here

Unconventional Oil & Gas News

Utica Shale gas output up 11% in Q1 from previous quarter

According to the Ohio Department of Natural Resources, gas production is keeping up its torrid growth pace in Ohio. This is off slightly from last years 25% increase from Q3 to Q5. Article here

Environment and Safety News

US EPA says fracking poses no "widespread risk" to drinking water

Congress requested the study, and after five years, the EPA saw little impact to water supplies from the widespread practice of hydraulic fracturing, better know as fracking. For the first time though, the EPA recognized some risk from the practice, including contamination from improper well integrity or inadequately-treated flowback or produced water discharged to the surface. Article here

Mergers and Acquisitions News

Enterprise Products to buy Pioneer's Eagle Frod Shale Midstream business for $2.15 billion
The assets being sold are owned 50.1% by Pioneer and 49.9% by India's Reliance Industries. Article here

Todd Erickson
Contributor: Todd Erickson
Posted: 06/07/2015

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